As more crypto coins fall victim to dedicated mining farms and ASIC rigs, it is getting harder for the average joe to compete in cryptocurrency mining. Fortunately, there is a coin that is still available to individual miners. It is monero, and it is committed to remaining minable by all to the point of forking to halt the efforts of ASIC manufacturers. In this article, you will learn about the top 5 Monero Pools that will make you a profitable miner.
Monero (XMR) is not a by-the-way coin as it is increasingly overtaking Bitcoin in popularity. Already, the volume of XMR channeled through the dark web has surpassed Bitcoins according to Chainalysis, the New York-based forensic firm. Resultantly, many enthusiasts have been drawn to XMR due to its increasing fame and minability.
Miners have come up with the idea of a mining pool which allows miners to combine individual hashing power to mine more resourcefully. Mining pools provide an opportunity for more frequent payouts from mining activity since when a block is collectively mined, the rewards are apportioned based on contributed hash power.
For an individual miner, expected payout as the number of blocks mined approach infinity would be constant. However, this is impractical due to the variance involved with mining. Therefore, mining pools have become essential for profit-oriented mining.
Find below a brief on the top five monero mining pools as at date, and before settling for a monero pool, the key factors to consider are:
- The pools total hashing power (the higher, the better)
- Minimum payout (the lower, the better)
- Applicable fee (of course lower is preferable)
- Uptime (The higher, the better)
MineXMR is a mining pool set on several mining pool servers in numerous locations. The pool has a minimum payout of 0.004 XMR and supports mining directly to an exchange. MineXMR’s uptime is above 95%.
- Hash Rate: 70.85 MH / sec
- Block Found: 3 minutes ago
- Connected Miners: 32,169
- Donations: 0.05% to developers
- Total Pool Fee: 1%
- Block Found Every: 14 minutes (estimated)
MinerGate is the first mining pool to introduce merged mining by which you can mine different coins simultaneously without a reduction in hash rate for major coin. MinerGate has 99.97% uptime and a minimum payout of 0.01 XMR. The payout is daily, and all miners can participate depending on their setup size. MinerGate supports web mining, which is a very convenient feature and it has been a very popular monero mining pool choice due to its ease of use. MinerGate also allows you to track your profits hourly, daily and weekly with the MinerGate calculator feature.
- Hash Rate: 6.9 MH / sec
- Block Found: 1 day ago
- Connected Miners: 48,340
- Donations: 1% to developers
- Payments every 13 hours (estimated)
- Minimum payout (Exchange): 0.01 XMR
Support XMR is a pool which mines only monero. They have a minimum payout amount of 0.1 XMR, and they also allow monitoring the performance of your rigs on the per worker hashrate chart. Support XMR makes payments every two hours and allow miners to set their own payment thresholds for regular and exchange wallets. Support XMR has maintained 100% uptime since October to date.
- Hash Rate: 82.89 MH / sec
- Block Found: 9 minutes ago
- Connected Miners: 10,339
- Donations: 0.06% to developers
- Payments every 2 hours
- Minimum payout (Exchange): 0.3 XMR
France’s number one mining pool charges a 2% fee (considerably higher than most) and finds a block roughly every 7 hours. Additionally, minimum withdrawal is 0.3 XMR (also higher than market standard). Over the past month, the uptime has dropped to just 81.79% only which is considerably lower than the market.
- Hash Rate: 19.65 MH / sec
- Block Found: about 2 hours ago
- Connected Miners: 2,210
- Pending Blocks: 0
- Total Fee: 2% (Reverse 3% pool developers, 7% to core developers)
- Block Found Every: 50 minutes (estimated)
- Next Payout: 4 hours (estimated)
MoneroHash, based in the US, allows mining to an exchange. It is one of the oldest mining pools for monero as it was launched in October 2014. MoneroHash usually finds a block every 2 hours and allows mining directly to an exchange wallet. The minimum payout is 0.5 XMR and uptime over the past month was a solid 99.92%.
- Hash Rate: 7.76 MH / sec
- Block Found: about 2 hours ago
- Connected Miners: 3,068
- Donations: 0.16% to monero core team
- Total Pool Fee: 1.6%
- Block Found Every: 2 hours (estimated)
On a Final Note
Outside the top five monero mining pools listed above, look out for the next best list which includes the likes of xmr.nanopool.org, dwarfpool.com, XMR.prohash, etc.